RE: RE: Yes = From Horses Mouth I'm sorry to have to tell you this HHdoc but in my estimation the 97% that voted yes for this deal were all suckers, except management. Your only option was to vote No and force them back to the bargaining table with Genel and the Kurdish authorities. Now the 97% of you as well as the other 3% are left with hardly any upside because management snookered and scared you into thinking this was your only choice. I have seen it many times where people vote diametrically opposite to their vested interest not realizing they have been conned to think the way that they do. Your argument that this deal was better than nothing does not address the real issue, and that is; this deal is not better than what you would have recieved if you had rejected managements gambit.
Before you give me a knee jerk reaction stop and think about it. What would have happenned if the majority had voted no. The proof is in the pudding, the management would have applied for an extension to the Kurdistan authorities for more time. If you say otherwise then how do you dispute the fact that THEY HAVE APPLIED FOR AN EXTENSION EVEN WITH THE YES VOTE ! So I was correct on that when I made that suggestion, well before the vote was even taken I might add. Secondly, if the No side had won then we would have been in a much better bargaining position vis-a-vis Genel. Again, as it is, the deal is still not a slam dunk, so I have been proven right once again, and that is negotiations could have continued with Genel and OTHERS for a much better deal.
The thing that really kills me is apart from a few people who have written me privately and it is a very few, the rest of you have moaned, groaned and complained about it but did not taken any constructive action to prevent what happenned. I indicated some time ago and reitterated it numerous times, that the simple course of action was to institue an "action for an accounting." To date no one, not even those who have written me privately, has even commented on this let alone tried to coalesce some shareholders together to push for that remedy in law. It would have blown the management strategy on this sweetheart deal wide open and we almost certainly would have realized much higher value on the disposition of these assets.
The fact that you are now getting a pittance for your investment does not elicit much sympathy from me, as those who voted for this deal have collectively shot themselves in the head. I have no pity for such self inflicted wounds. Unfortunately however, I guess we will all have to roll over and take it like a man, because the decision made by the majority rules, no matter how boneheaded.